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According to The Block, the U.S. spot Ethereum ETF saw a net outflow of $542.1 million last week, marking the worst week since January, with capital outflows occurring for 9 consecutive days.During the same period, the Solana ETF experienced a net outflow of $24.8 million, ending a previous streak of 14 weeks of net inflows, and recording the largest single-week net outflow since the product was launched.

Tom Lee, the chairman of the Ethereum treasury company Bitmine, stated in an interview that Ethereum is expected to rise to between $25,000 and $50,000 in this cycle. He believes that ETH has been oscillating in a similar range for the past five years, and continued bottoming may lay the foundation for a larger breakthrough later.Tom Lee also predicts that the price of ETH will exceed $5,000 by the end of the year, noting that if Bitcoin rises above $100,000, ETH is expected to reach around $7,500. However, market prediction data shows that traders currently believe there is only a 4% chance that ETH will rise to $5,000 by the end of 2026.

According to on-chain intelligence platform Arkham, Grayscale's mini ETH ETF has accumulated $103.3 million in ETH purchases over the past 20 days, while its older product, the ETHE fund, recorded an outflow of $71.6 million during the same period. The market generally believes this is an internal rotation of funds from ETHE to the mini fund.Considering the net flow of both products, Grayscale's clients have net bought approximately $31.7 million in ETH during this period.

Blockworks analyst Jake Koch-Gallup published a rebuttal to the viewpoint that Ethereum is losing its liquidity moat, arguing that despite the challenges to ETH's value capture ability and stablecoin market share, its reserve asset characteristics, Layer 2 ecosystem, and institutional adoption still constitute a long-term competitive advantage.In response to the issue of low on-chain revenue for Ethereum, Jake pointed out that ETH's valuation depends not only on actual economic value (REV) but also includes reserve asset and collateral premiums, with ETH's market capitalization currently about 1,100 times the REV of the past 12 months. Additionally, the development of Layer 2 networks such as Robinhood Chain and Base can still strengthen the Ethereum ecosystem, rather than indicating that funds and applications are completely leaving Ethereum. Jake also noted that Ethereum currently accounts for about 65% of the total value locked (TVL) in DeFi, with approximately 45% of the on-chain managed scale in real-world assets (RWA), while spot ETFs and corporate treasuries collectively hold about 13% of the total ETH supply, and about 36% of the ETH supply is currently staked.Although Ethereum's stablecoin market share has gradually faced dilution pressure from around 51%, Jake believes that as the overall stablecoin market expands, its absolute scale may continue to grow. However, Jake also acknowledged that relying solely on ETH's reserve asset premium, without sufficient revenue and value return mechanisms, raises questions about its valuation sustainability.

According to SoSoValue data, yesterday (Eastern Time October 9), the total net outflow of Ethereum spot ETFs was $56.1001 million, continuing a 9-day net outflow.The Ethereum spot ETF with the highest single-day net outflow yesterday was Blackrock ETF ETHA, with a single-day net outflow of $56.1001 million. Currently, the historical total net inflow of ETHA has reached $12.793 billion.As of the time of publication, the total net asset value of Ethereum spot ETFs is $15.710 billion, and the ETF net asset ratio (the market value compared to the total market value of Ethereum) is 5.18%. The historical cumulative net inflow has reached $13.260 billion.

Account @blockchainchick stated that Tether's USDT contract has included the destroyBlackFunds function since its deployment on Ethereum in 2017. This function first confirms that the address has been blacklisted, then reads its balance, sets the balance to zero, deducts the corresponding amount from the total supply, and records the event, with no function available to reverse it.The account mentioned that the relevant blacklist function names the target address as _evilUser, and only Tether's multi-signature owners can invoke it on Ethereum and Tron. It also stated that Tether can subsequently mint an equivalent amount of USDT to the selected address, keeping the net supply unchanged; the U.S. Department of Justice described this process in a March 2025 forfeiture case in Massachusetts, involving approximately $9,016,612 USDT. The account also claimed that USDC can restrict wallets but cannot destroy balances, and believes this mechanism has been operating on Tron and Ethereum with owners, while Bitcoin does not have this feature.

On October 8, 2026, Senator Richard Blumenthal, the chief member of the minority party of the U.S. Senate Permanent Subcommittee on Investigations, sent a letter to Cantor Fitzgerald Chairman Brandon Lutnick, requesting the preservation of documents and answers regarding the company's relationship with the stablecoin issuer Tether. The deadline for responses to the five-page letter is October 23, 2026. This request comes from the minority party of the subcommittee, is part of an investigative inquiry, and is not a law enforcement order, nor does it constitute a determination against Cantor, nor does it alter the operation or redemption of USDT.The letter states that since President Trump took office again, the valuation of Cantor's 5% stake in Tether has risen from $600 million to an estimated $10 billion, with Cantor earning tens of millions of dollars each year for holding assets on behalf of Tether; former Cantor Chairman and current Secretary of Commerce Howard Lutnick has profited over $250 million during the same period, including a $192 million distribution from Cantor. The page notes that the above content reflects allegations and estimates made by the senator, and does not represent conclusions drawn from this request. Blumenthal also wrote that Tether claims to operate in El Salvador, but the vast majority of its assets are in the U.S., held by Cantor.

Coinbase Institutional stated that ETH rose by 71% in the third quarter, but on-chain indicators show that there are no obvious signs of overheating in its price trend.Data shows that the proportion of ETH supply in profit has moved out of the accumulation range, but it is still far below the warning zone, indicating that the current market has not reached the excessive rise state suggested by historical indicators.

According to The Defiant, the stablecoin issuer Tether has blacklisted four THORChain treasury addresses, which collectively hold approximately 1.45 million USDT.As a result, THORChain's Tron cross-chain exchanges and liquidity provider-related operations have been suspended. THORChain co-founder Chad Barraford stated that the team did not receive any prior notice before Tether took action.

According to MistTrack monitoring, Tether has frozen a large amount of USDT on certain addresses related to the Ledger user funds theft incident, which has resulted in losses nearing 90 million dollars. It is reported that some affected users have contacted MistTrack for assistance, and their team is following up. Previously, Ledger stated that it is investigating the theft incident involving user funds related to the Southeast Asian dealer CryptoBillis.

According to an announcement released on the White House website on Friday, U.S. President Trump announced the establishment of a special committee to investigate allegations against Federal Reserve Board member Lisa Cook. According to the announcement dated October 7, Trump stated, "To assist me in fulfilling this duty, the committee will investigate the allegations against Board member Cook and report to me whether there is 'just cause' for her removal." This investigation will focus on assessing whether Cook meets the criteria for removal under the law, and it does not currently imply that she has been removed.

CryptoQuant analyst Darkfost stated that the cryptocurrency market has recently entered a short-term correction phase, with the total market capitalization of altcoins (Total2) shrinking by over $11 billion in just three days, excluding Bitcoin; among them, Ethereum (ETH) saw a decline of 11%, with a market cap reduction of over $38 billion.Despite the price correction, investors continue to accumulate and withdraw Ethereum. During this period, the Ethereum reserves on the Binance exchange decreased from 3.57 million to 3.47 million, reaching the lowest level in six months; compared to the reserve of 3.92 million in August, this represents a decline of nearly 11.5%. Meanwhile, the withdrawal trading activity on the Binance platform has significantly increased, with over 320,000 Ethereum withdrawal transactions recorded on October 6, setting a new historical high.

Ethereum contributor Francesco Risitano (@frisitano) submitted the draft proposal EIP-8440 (Proof of Execution Chain). This proposal proves the legitimacy of all execution payloads from the head beacon block to the origin beacon block through a recursive zero-knowledge proof mechanism, binding it to the beacon chain.Nodes can establish complete execution validity from a weak subjectivity checkpoint to the latest block header with a single proof, achieving constant time chain synchronization.

According to SoSoValue data, the total net outflow of Ethereum spot ETFs yesterday (Eastern Time October 8) was $72.544 million. The Ethereum spot ETF with the highest net inflow yesterday was Fidelity ETF FETH, with a net inflow of $5.503 million, and the historical total net inflow of FETH has reached $2.334 billion.Next was Morgan Stanley Ethereum Trust MSSE, with a net inflow of $1.3209 million yesterday, and the historical total net inflow of MSSE has reached $42.679 million. The Ethereum spot ETF with the highest net outflow yesterday was Blackrock ETF ETHA, with a net outflow of $71.1208 million, and the historical total net inflow of ETHA has reached $12.849 billion.As of the time of writing, the total net asset value of Ethereum spot ETFs is $15.636 billion, with an ETF net asset ratio (market value as a percentage of Ethereum's total market value) of 5.17%, and the historical cumulative net inflow has reached $13.316 billion.

The Securities and Exchange Commission (SEC) of Thailand has completed the formulation of relevant rules, allowing cryptocurrency exchange-traded funds (ETFs) to be listed and traded on the Stock Exchange of Thailand, initially limited to Bitcoin and Ethereum. The rules will take effect on October 16, 2026.Initially, products such as depositary receipts linked to overseas cryptocurrency ETFs are not allowed, and Thai brokers are still prohibited from assisting retail investors in investing in overseas cryptocurrency ETFs; institutional investors and ultra-high-net-worth individuals are not subject to this restriction. Mutual funds and private equity funds can invest in cryptocurrency ETFs established in Thailand. The relevant ETFs must adopt a passive investment approach, tracking the prices of the invested crypto assets, and ensure that the average net exposure of a single cryptocurrency reaches at least 80% of the net asset value within each accounting year. Brokers are not allowed to provide margin financing, and fund assets must be custodied by a digital asset custodian regulated by the SEC.

The next phase upgrade of Ethereum, Glamsterdam, was activated on the Sepolia testnet on October 6, completing block finality during the switch without any critical failures. This upgrade consists of the consensus layer Gloas and the execution layer Amsterdam, incorporating a total of 18 EIPs, designed with a gas limit of approximately 200 million, which is about 3.3 times the current mainnet limit of 60 million. The upgrade will not automatically raise the limit but will allow for larger blocks to be produced safely, with validators deciding whether to increase it.Key changes include EIP-7732, which embeds the separation of proposers and builders in the protocol, extending the time for most validators to check transactions from about 4 seconds to about 9 seconds; EIP-7928 requires blocks to include the touched state and updated values, facilitating client data prefetching and parallel validation; EIP-7954 raises the contract code limit from 24 KiB to 64 KiB; EIP-8037 increases the cost of creating new storage slots from 20,000 gas to 97,920 gas, while regular ETH transfers remain at 21,000 gas.The gas limit for the first relevant block on Sepolia was 60 million, reaching 200 million about 11 hours later and maintaining that level. Ethereum Foundation researcher Toni Wahrstätter stated that the speed at which various clients handle gas units has improved compared to before the upgrade, with Geth's execution time for a 40 million gas block reduced from about 115 milliseconds to about 30 milliseconds. The Hoodi testnet is tentatively scheduled for deployment on October 27, with the mainnet target set for the fourth quarter of 2026;

Senior Democratic member of the U.S. Senate investigators, Senator Richard Blumenthal, is continuing to investigate the financial relationship of the stablecoin issuer Tether and has written to Cantor Fitzgerald CEO Brandon Lutnick, requesting information regarding the relationship between the two companies.Brandon Lutnick is the son of U.S. Secretary of Commerce Howard Lutnick. After Howard Lutnick joined President Donald Trump's administration, Brandon Lutnick took over his leadership role at Cantor Fitzgerald. Cantor Fitzgerald holds and manages Tether's reserve assets in the U.S., and there are several other business interests between the two parties.

OKX will launch the Tether USDT Flash Earn Lite event on October 9 at 15:00. Participants can share a reward of 280,000 USDT by subscribing to ETH. The event will end on October 14 at 15:00.

According to SoSoValue data, the total net outflow of Ethereum spot ETFs is $161 million. The Ethereum spot ETF with the highest single-day net outflow is Blackrock ETF ETHA, with a single-day net outflow of $116 million. Currently, the historical total net inflow of ETHA has reached $12.92 billion.The second is Grayscale Ethereum Trust ETF ETHE, with a single-day net outflow of $25.76 million. Currently, the historical total net outflow of ETHE has reached $5.467 billion. As of the time of publication, the total net asset value of Ethereum spot ETFs is $16.402 billion, and the ETF net asset ratio (the market value as a percentage of Ethereum's total market value) is 5.22%. The historical cumulative net inflow has reached $13.389 billion.

According to CoinDesk, the Ethereum Glamsterdam upgrade was activated on the Sepolia testnet this Tuesday, increasing the block Gas limit from about 60 million to nearly 200 million, more than tripling the increase.A review of over 25 consecutive test blocks showed that the actual Gas usage was around 52 million to 92 million, accounting for only 26% to 46% of the available limit, with no instances of full capacity. The upgrade also adjusted the Gas consumption method for specific tasks and the costs of storing data, requiring developers to retest applications involving specific Gas cost assumptions. The next public testnet, Hoodi, is tentatively scheduled to launch on October 27, and the activation date for the Ethereum mainnet has yet to be determined.